CBRE Arranges $8.8 Million Sale of Retail Center, Walgreens Property in Sarasota, Florida

Sarasota, Fla. — CBRE has arranged the $8.8 million sale of Oaks Plaza, a 38,837-square-foot retail center, and an adjacent parcel ground leased to Walgreens in Sarasota. Mark Shellabarger and Ari Ravi of CBRE represented the seller, a New York City-based private investment company, in the disposition of the property to a Tampa Bay-based private investment group. Located at 3880-3916 Central Sarasota Parkway, Oaks Plaza features two buildings, which were 57 percent leased at the time of sale to six tenants including Skillets, Tropical Smoothie Café and Town Square.